Expensive coffee proves costly for Dunkin’ owner

J.M. Smucker, the United States-based group that owns donut chain Dunkin’, has been hit hard by high coffee prices, while consumers are also snacking less. As a result, last year’s tasty profit has turned into a sour loss.

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The American food group reported a net loss of 44 million dollars (40 million euros) for the past quarter. A year earlier, J.M. Smucker had still posted a profit of 185 million dollars (170 million euros) in the same period.